SOHM Announces That It Has Entered Into Definitive Agreement With Dermatology Products Company Acquisition
SOHM Goes Beyond Generics to Applied Innovations in Dermatology
(firmenpresse) - BUENA PARK, CA -- (Marketwire) -- 08/02/11 -- SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, announced today that the Company has entered into a definitive agreement with Novatrend Medicament Pvt. Ltd. to acquire all its products on a cash basis per the previously signed letter of intent with the company.
Mr. Shailesh Shah, President and CEO, is pleased to announce that forwarding its agenda of organic growth, SOHM goes beyond generics to applied innovations in dermatology by taking over Novatrend products. SOHM acquires unique cutting edge in dermatology as it also acquires unique and innovative pipe line derma products. These products are not only premium priced and innovative; but they are conceptualized with the unique motto of developing alternatives for unmet needs.
Further, Mr. Shailesh Shah is delighted to state that this strategic acquisition is the first step towards the long-term goal of backward integration and conceptualizing unique innovation in the applied formulation range. SOHM will also leverage Novatrend's in-depth knowledge of new drug delivery systems, be it transdermal innovation or transmucosal route therapies.
Mr. Shailesh Shah reiterates that the Company projects these 17 new product offerings will contribute in excess of USD $1,000,000 in yearly revenue, with significant profit margins. The Company expects this acquisition to be accretive to earnings and cash flow within the first year, allowing the Company to report its first profitable year of operations since inception.
Mr. Shailesh Shah concluded that of the 17 products acquired, more than five are first-time in India and some of them first-time in the world. These milestones also create an imperative need for more protective regime in IPR and trademark protection for SOHM group.
SOHM, Inc. is a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories. Global headquarters is located in North America with manufacturing sites in India. Generic pharmaceuticals are exported globally with a focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of SOHM, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information, please contact:
SOHM, Inc.
Investor Relations
(714) 522-6700
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Datum: 02.08.2011 - 06:30 Uhr
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